The cryptocurrency market is currently experiencing a surge, with numerous digital assets demonstrating significant upward momentum. Notably, two standout performers in the past 90 days have been SUI Network [SUI] and Sei [SEI], showcasing notable price increases.
During this period, SUI has witnessed a remarkable surge of over 109%, while SEI has seen a rise of 31%, positioning them as top performers within the market.
With the continuous evolution of blockchain technology, both SUI and SEI are set for further expansion as we head into Q4 2024, drawing parallels to the impressive rally witnessed by Solana [SOL] in 2021.
Comparison of Chart Patterns with Solana’s 2021 Performance
Upon analyzing the chart patterns of SUI and SEI alongside Solana’s, a striking similarity becomes evident. The chart pattern observed in 2021 for Solana, which led to its significant 2,500% surge, mirrors the current patterns unfolding for SUI and SEI.
SUI’s potential for rapid transaction speeds, though in the conceptual phase, has contributed to its outperformance in the market.
Similar to Solana’s trajectory in 2021, both SUI and SEI have established early highs and lows. With favorable market conditions, these assets could potentially experience comparable gains.
In the case of Solana, it reached a peak in early Q3 2021, saw a downturn in late Q3, and subsequently soared by more than 2,500%. SUI and SEI are tracking a similar path, hinting at the possibility of substantial upward movement in their prices.
Analysis of Total Value Locked (TVL) for the Three Assets
When examining the total value locked (TVL) among these assets, Solana leads with a TVL of $5.306 billion, a significant margin ahead of the relatively new SUI and SEI.
SUI holds the second spot with a TVL of $1.116 billion, surpassing Polygon (POL). On the other hand, SEI has a TVL of $534 million, which is half of SUI’s TVL. This discrepancy makes SUI a more attractive option for investors and traders seeking robust trading opportunities.
Despite their recent entry into the market, both SUI and SEI exhibit promise. Nevertheless, Solana maintains a dominant position in attracting value to its ecosystem, offering it a competitive advantage.
Comparative Performance of SUI and SEI
In terms of market performance, the current price of SUI stands at $1.75, SEI at $0.40, and Solana at $148.
SUI boasts a market cap approximately four times larger than SEI, amounting to $4.69 billion compared to SEI’s $1.4 billion.
This discrepancy indicates that SUI may present a more robust investment opportunity. Year-to-date, SUI has seen a price increase of 297%, slightly edging out SEI’s gain of 286%.
Furthermore, over the past month, SUI has surged by 82%, surpassing SEI’s 33% increase, positioning SUI as the more promising asset for Q4.
Both SUI and SEI showcase significant growth potential, with SUI emerging as the front runner in terms of market performance, TVL, and overall investor confidence.
Given the resemblance of both assets’ chart patterns to Solana’s 2021 performance, there is a possibility of substantial gains should market conditions remain favorable.
Based on its higher price growth, market cap, and TVL, SUI appears to be the preferred investment choice, well-equipped for a potential upsurge akin to Solana’s trajectory.